So far the strategy I have in mind is to focus on properties within the 100k range, perform rehab and fixes as needed and rent & hold for a while. 

Caution:Contracting for repair, maintenance, remodeling, or improvement by any person licensed under part I of chapter 475 (real estate agent) while acting as the owner’s agent pursuant to that license, where all work requiring a contractor is performed by a contractor who has a current, valid certificate or registration issued under this part to perform such work, and where the aggregate contract for labor, materials, and all other items is less than $5,000; however, this exemption does not apply: (a) If the maintenance, repair, remodeling, or improvement is a part of a larger or major operation, whether undertaken by the same or a different contractor, or in which a division of the operation is made in contracts of amounts less than $5,000 for the purpose of evading this part or otherwise.For the sake of your cousin's license, either make her a part owner (sharing the gross profit as her compensation) or get a GC on the job asap.Just a helpful hint to keep a fellow real estate agent out of jail. 

@Ned Carey raises an important perspective weighing the benefits of what someone brings to the deal skill wise - but the actual duties performed by these "partners" are another consideration.

This topic is worthy of a book, but I'll limit my best advice to three points:Get Yourself a great Chief-of-Staff Before You Consider Adding More Staff - Yes, you can probably hire VA's to perform nearly every task you now do, but resist the initial urge to bring on a gaggle of specialists.

He can lose the EMD also.So the question remains what does the contract say about keeping the EMD if the buyer does not perform? 

He does not want a property manager, just someone to perform/oversee repairs to his properties. 

He does not want a property manager, just someone to perform/oversee repairs to his properties.

That is unless you have extensive construction and property management knowledge to take this one down. 

They can perform constructive eviction only if habitability requirements have not been met by the landlord.

We buy fIrst position Non-performing in the U.S.